Reference no: EM132491933 , Length: Word count: 700

Purpose of Assignment

• All products/services go through a life cycle of NPI (new product introduction), growth, maturity, and decline. These various stages affect the marketing strategy and promotional efforts for a particular product or service. In Week 3, you will incorporate a product strategy that addresses at least 3 areas of the product life cycle. The primary objective of this assignment is to allow you to demonstrate an understanding of the factors that can affect the launch of a product or service.

Assignment Steps

Create a minimum 700-word product strategy in Microsoft® Word. Complete the following:

Question 1: Select a product strategy.

Question 2: Address at least three areas of the product life cycle (e.g., NPI, growth, maturity, and decline).

Question 3: Discuss two types of media methods you could use to highlight your product or service.

Question 4: Determine how you will measure the marketing activities (i.e., what metrics will be used to determine success or failure).

Address three elements of the following product and promotion list:

1. Integrated marketing communication
2. Advertising strategy/objectives
3. Push and pull
4. Media strategy
5. Advertising execution
6. Direct marketing
7. Public relations/strategies
8. Positioning